BlueMountain Raises $1.3B for Second Multiasset Fund

Nov 3 2015 | 3:28pm ET

BlueMountain Capital Management has announced the final close its BlueMountain Summit Opportunities Fund II, the firm’s most recent multi-asset class opportunity fund.

The new vehicle closes with approximately $1.3 billion in capital commitments. It has already begun deploying capital into high conviction investments across multiple asset classes, including public corporate credit and equity, mortgage and asset-backed securities, real estate and private debt and equity, according to the company. It will focus on positions with excess risk premium associated with lower liquidity and heightened complexity.

BlueMountain’s first Summit Opportunities Fund closed on $1.5 billion in 2012.

“We are pleased to announce the final close of our Summit Fund II, which has already begun to deploy capital successfully,” said Stephen Siderow, co-president and co-founder of BlueMountain. "The Fund’s broad investment mandate and its long-term draw down structure enable us to invest opportunistically over a five to nine year time horizon. 

The new fund will benefit from BlueMountain’s integrated and interdisciplinary multi-asset class investment platform, and will leverage the company’s 12 investment strategies and approximately 100 investment professionals based in its New York and London offices.

BlueMountain Capital Management was founded in 2003 by Siderow and former JP Morgan executive Andrew Feldstein. The firm is a multi-strategy absolute return hedge fund with more than $22 billion in assets under management.

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